What should i put for annual income for credit card?

AffiliatePal is reader-supported. When you buy through links on our site, we may earn an affiliate commission.



When applying for a credit card, one of the common questions you will encounter is about your annual income. This information is crucial for credit card issuers as it helps them assess your ability to repay the credit card debt. In this article, we will explore what you should put for annual income when applying for a credit card and provide some guidance on how to approach this question.

Understanding the Importance of Annual Income

Your annual income is a significant factor that credit card issuers consider when evaluating your creditworthiness. It provides them with an indication of your financial stability and ability to make timely payments. By disclosing your annual income, you are essentially giving the credit card issuer an idea of how much you can afford to repay each month.

Reporting Your Annual Income Accurately

When it comes to reporting your annual income for a credit card application, it is essential to be honest and accurate. Providing false information can have serious consequences, including the rejection of your application or even legal repercussions. Therefore, it is crucial to report your annual income truthfully and to the best of your knowledge.

Types of Income to Include

When determining what to include in your annual income, it is important to consider all sources of income. This includes not only your primary salary or wages but also any additional income you may receive. Some examples of income sources to consider are:

Employment Income: This includes your salary, wages, bonuses, and any other income you receive from your primary job.

Self-Employment Income: If you are self-employed or have a side business, you should include the income generated from these sources.

Investment Income: Income from investments such as dividends, interest, or rental properties should be included.

Retirement Income: If you receive income from a pension, annuity, or Social Security, make sure to include it in your annual income.

Other Sources of Income: Any other sources of income, such as alimony, child support, or government assistance, should be included as well.

Excluding Certain Income

While it is important to include all relevant income sources, there are some types of income that you should exclude from your annual income calculation. These may include:

Gifts or Loans: If you receive money as a gift or a loan, it is not considered income and should not be included in your annual income.

Unemployment Benefits: Although unemployment benefits provide temporary financial assistance, they are not considered stable income and should not be included.

Non-Taxable Income: Certain types of income, such as child support or certain disability benefits, may be non-taxable. In such cases, it is advisable to consult with a tax professional or refer to IRS guidelines to determine if they should be included.


When filling out a credit card application, accurately reporting your annual income is crucial. It helps credit card issuers assess your creditworthiness and determine your credit limit. Remember to include all relevant sources of income while excluding any income that is not considered taxable or stable. By providing truthful and accurate information, you increase your chances of a successful credit card application.


– Credit Karma: www.creditkarma.com
– Experian: www.experian.com
– NerdWallet: www.nerdwallet.com
– Investopedia: www.investopedia.com